- Ticketmaster canceled its general sale for Taylor Swift’s “Eras Tour” on Thursday.
- Resale tickets for the tour reached exorbitant figures on Stubhub.
- Hopeful attendees can end up paying anywhere from $300 to five-figure price tags.
Resale tickets for Taylor Swift’s Eras Tour concert are skyrocketing after Ticketmaster announced on Thursday that it’s canceling its general sale for the tour.
A die-hard Swifty who wanted to see the show at the AT&T Stadium in Arlington, Texas, on March 31, for example, has the option to shell out up to $12,287 on StubHub for one front-row ticket. And that’s not including the $3,400 processing fee.
On Thursday, Ticketmaster said in a statement that it was canceling its general sale of Swift’s tour “due to extraordinarily high demands on ticketing system and insufficient remaining ticket inventory to meet that demand.”
The statement did not clarify how the vendor ran out of inventory ahead of the general sale.
While the five-figure price tag on Stubhub is certainly an anomaly, the cheapest tickets for Swift’s first nationwide tour since 2018 hovered around $200 to $300 on the resale website.
Ticketmaster is not the only ticket broker in the live entertainment industry, but it largely dominates the market, especially since the company merged with Live Nation in 2009.
Lawmakers, including Democratic Sen. Amy Klobuchar and Rep. Alexandra Ocasio-Cortez, have recently called for investigations into the company citing concerns that Ticketmaster has essentially set up a monopoly on the ticket sales industry.
“Daily reminder that Ticketmaster is a monopoly, it’s merger with LiveNation should never have been approved, and they need to be reigned in. Break them up,” Ocasio-Cortez tweeted.